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How to get Bitcoin and other currencies


There are three ways to acquire cryptocurrencies. The first is to ‘mine’ for them using your computer. This is the digital equivalent of panning for gold and you’ll probably need to join a mining pool to stand a chance of finding anything.

It’s also likely to cost you a small fortune in electricity. The second option is to buy them from an exchange or a special ATM, which you can locate at coinatmradar.com. You don’t get physical money,

How to get Bitcoin and other currencies

How to get Bitcoin and other currencies
The Bitcoin ATM map displays the nearest place to withdraw your cryptocurrency

You don’t get physical money, the only digital currency which gets sent to your ‘wallet’. This could be a mobile app, an online wallet, an offline wallet or even a piece of paper.

The third method is to buy shares in a fund that’s bought Bitcoins, but this is generally considered a bad idea. Assuming you choose to go the easiest route, which is to buy them, you first need to decide on an exchange to use.

Note:- I have written a post for people looking for the best laptop for trading, do read it If you are interested.

There are a lot to choose from, including Coinbase (www.coinbase.com), Kraken (www.kraken.com), CEX.IO (cex.io) and Bitstamp (www.bitstamp.net). If you find
an exchange you like the look of, do a little research before proceeding and check to see if it’s had any security problems in the past and how those were handled (for example, Bithumb, South Korea’s largest exchange, was recently hacked but it promised to fully compensate all affected customers).

For the purpose of this project, we’ll use Coinbase. The currency you opt to buy may have some bearing here because different exchanges handle different currencies and prices can vary, though typically not by much

How to get Bitcoin and other currencies
You need to complete your Account Verification here

You now need to supply identification. Choose the type you
have – Passport, Driver’s License or Photo ID. If you don’t have any of those, click the link. You can choose to take the photo and upload it using either a webcam or mobile camera. Once that’s done, you will need to supply payment details.

How to get Bitcoin and other currencies
The Coinbase Dashboard displays currency performance.
You can switch between currencies and change the timeframe

How to buy cryptocurrency

Once you’ve decided which exchange to buy from, you need to perform a few administrative tasks. First, you need to verify your identity and payment method.

This process varies but it may involve uploading a photo of you holding your bank card, or a scan of the front and back of your driving license. You’re probably hearing alarm bells ringing at this stage because it’s not something any
sane, technologically savvy web user would normally do – which is why it’s important to only use a secure, well-respected exchange. The verification

The verification process can take a while, although we were trading within a couple of days of signing up with Coinbase.
The exchanges make good use of 2FA (Two Factor Authentication), so you will need to enter codes sent to your mobile. phone whenever you have to verify your
identity or you log in on a new device. You can buy currency with a debit or credit card, or via a bank transfer. Setting up a bank transfer takes a little longer because you’re allowed to buy larger amounts so the process is more stringent.

Where to get a wallet

Currency from an exchange is stored online in a wallet that’s created for you. Each currency type is stored in a
different wallet, and you can also choose to use an existing wallet, if you have one.

There’s a page on the Bitcoin site (https://bitcoin.org/en/choose-your-wallet) that lists the many different ones on offer, and Ethereum has its own
(www.ethereum.org). You can also get multi-currency wallets (https://www.cryptocompare.com/wallets) that let you store different currency types in one place.

How to get Bitcoin and other currencies

The benefit of using your own wallet is that you’re fully in charge of it – if your exchange gets hacked and your currency is stolen, it won’t affect you if you’ve already transferred your purchases. You can buy and sell from a private wallet, and transfer currency to and from it, too.
It’s vital that you secure your wallet with a strong password. Bear in mind, though, that if you forget or lose this, then you’ll have no way of gaining access to your money.

Set up notifications

Buying and selling cryptocurrency for profit is largely about timing, so it’s worth setting up notifications in the Coinbase
mobile app (https://www.coinbase.com/mobile?locale=en-gb), which alerts you when your coin of choice hits a particularly high or low.

In the app, tap the bell icon in the top-right corner. On the Price Alerts screen, select the currency type (Bitcoin
or Ethereum), then tap the plus symbol in the top-right corner and use the slider to select a price. You can select multiple price points if you wish, which can help you determine the best time to buy or sell.

How volatile are cryptocurrencies?

The value of cryptocurrencies has gone up and down significantly in the past few years. To give you an idea of how volatile the market can be, in June 2017, Bitcoin was worth over $3,000 and Ethereum around $400. By the middle of July, Bitcoin had dropped to $2,300 and Ethereum to below $200. That might seem like quite a drop, but at the start of the year, Bitcoin was priced at around $970 and Ethereum at $8.

No matter how low the price gets, it can seemingly always go lower. But if you wait long enough, the value should
eventually, start to rise again.

Buy and sell cryptocurrency

Once you’re set up, you can begin to buy currency. Click the Buy/Sell tab and choose the type of currency you require from Bitcoin, Ethereum or Litecoin. The current price for each one is shown under its name. Select the payment method to use if you have more than one.

get bitcoin currencies

If you’re using a card to buy currency, you have a weekly limit of £325. If you’re making payments from your bank,
you can make purchases up to £9,000 – potentially even more. The amount available to spend is shown. Enter an
amount and click the Buy button.

get bitcoin currencies

Selling currency is a similar process. Click the Sell tab and choose which wallet to sell from and deposit to (in EUR or GBP). Enter an amount and click Sell. You can repeat that transaction on a regular basis if you wish.


Investing in digital currency is not without risk and the cryptocurrency market can be volatile. You might be well up on your initial investment one day, then find its value has been wiped out the next, making it worth less than it was when you started.

For this reason, although you are unlikely to lose all of your
investment’s value, you should only invest money that you can afford to lose. The trick, ultimately, is to view it as a semi-long-term investment – buy when the price looks low and sell the moment the market appears to be at its most
buoyant and when you can still make a profit on top of any fees you may incur.


Hope my article “How to get Bitcoin and other currencies” helps you to get Bitcoin and other cryptocurrencies .

Also, Check What is Blockchain and how does it work

Pros and Cons of Digital Currency Explained


  1. BTC or, bitcoins, are primarily used for purchases on Dark Net Markets(DNM). For this reason alone it will always cost a bit and usually be somewhat of a pain in the ass. I’ve used Localbitcoins in the past and have been using Virwox without incident for the past 6 months. Both of these sites will cost you in fees, that’s just how it is. I’m not aware of any BTC sellers who take less than 15% on orders of under $300. Many won’t even accept under$100, which I normally don’t need to buy. Given that, Virwox let’s you deposit much smaller amounts, but they’re fees end up close to 20%. That’s basically a convenience fee. After 2 deposits are made you get your BTC within 2 hrs, the first 2 are 48 hrs. Also, you must use the same method of purchase ex.(PayPal) each time to get your BTC within 2 hrs. If you suddenly change from PayPal to a CC or something similar, chances are that you’ll have to again wait the 48 hrs. This is due to an automatic security feature of the site. It happened to me. I brought it to their attention, letting them know that it wasn’t in their FAQ or anywhere else on the site. They responded quickly and I had my BTC within 3 hrs. Basically, for convenience both localbitcoins and Virwox are good choices. Just make sure that you read the FAQ and educate yourself or you could end up in a shitty situation. If you want complete anonymity, pay with cash at the seller’s bank or in person(both of which are risky) You’re much more likely to get scammed and/or waiting a while for your BTC when you’re dealing with an individual instead of Virwox. Just make sure to check out the seller’s feedback and hopefully it all works out. There will ALWAYS be fees and other obstacles when dealing with an unregulated currency. If it’s too much to deal with maybe you should just buy your goods IRL instead. In the end, It’s all about convenience.

  2. “Your Bitcoin wallets review was so helpful. I have read a certain comments and you say that Exchange-Wallet web service it is not good idea, because all risks it can have.
    In that way, what do you think about SpectroCoin services?

  3. I’m a fellow Canadian as well and found we can buy ether from Coinbase. Did you consider buying from Coinbase instead of buying bitcoin then convert into ether?

  4. It seems pretty clear to me that Mt. Gox was in the wrong here, and that the Feds were simply trying to enforce the law, not target or weaken Bitcoin.””
    When, if ever, are the feds simply trying to enforce the law? Bitcoin was seen as a threat and thus, were targeted.

  5. Buying BTC through PayPal is inherently risky because PayPal doesn’t allow these kind of transactions due to the legal constraints on PayPal and the risk of money laundering.

    If you MUST use PayPal (I would strongly not recommend it) to buy BTC, then do yourself a favour, register for a NEW PayPal account from a NEW IP address, in no way associated with your MAIN PayPal account (especially if you do business and rely on PayPal).

    PayPal and eBay are getting smarter and able to link up accounts and usage of PayPal to individuals. If they discover you’re trading or buying BTC through PayPal you’re likely to lose your account, and possibly be banned from using the service completely in future.

    My advice is, if you need access to PayPal don’t even risk it.

    Instead, go to a cash BTC marketplace (such as localbitcoins) and buy your BTC with CASH deposit or bank transfer online. The BTC are held in escrow the minute you mark payment completed, and those marketplaces like localbitcoins are based on a peer trust model so you can choose a well trusted trader if dealing in cash. There’s very minimal risk of losing your cash or not getting your BTC.

  6. “I think this is a well written article that could have done without the links, IMO. Ye olde can of worms, so to speak.

    Drugs are bad, just remember that. Not going to argue with folks, but you can enjoy life and be prosperous without illegal chemicals”

  7. Valuable information. Fortunate me I discovered your website by chance, and I’m shocked why this twist of fate did not took place earlier! I bookmarked it.


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